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Can you explain the significance of BU type 2 in the cryptocurrency space?

avatarFysv FsbsJan 20, 2022 · 3 years ago1 answers

What is the significance of BU type 2 in the cryptocurrency space? How does it impact the industry?

Can you explain the significance of BU type 2 in the cryptocurrency space?
Cryptocurrency
BU Type 2
Significance

1 answers

  • avatarJan 20, 2022 · 3 years ago
    BU type 2 is a proposed upgrade to the Bitcoin protocol that aims to increase the block size limit. It addresses the scalability issue faced by Bitcoin and aims to improve transaction speed and reduce fees. It introduces a new consensus mechanism called Emergent Consensus, which allows for dynamic adjustment of the block size limit based on transaction demand. While it has gained support from some members of the cryptocurrency community, it is still a proposed upgrade and has not been widely adopted by the Bitcoin network.

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